Hong Kong Exchanges and Clearing Limited's (HKEx) securities market turnover rose to an all-time high of $252.4 billion today (Wednesday), exceeding the previous record of $211 billion set on 3 October 2007, as trading through Shanghai-Hong Kong Stock Connect surged to its best level since launch. The market capitalisation of Hong Kong-listed shares also reached a record high, climbing to $28.6 trillion.
Today's other single day records included:
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Highest Southbound Stock Connect turnover: $21 billion (RMB16.8 billion) (previous high was RMB4.8 billion on 2 April 2015).
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Highest Northbound Stock Connect turnover: RMB13.2 billion (previous high was RMB12.1 billion on 17 November 2014).
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Highest combined Northbound and Southbound Stock Connect turnover: RMB29.9 billion(previous high was RMB13.9 billion on 17 November 2014).
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RMB10.5 billion Daily Quota for Southbound trading was reached in the afternoon trading session, the first time ever.
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A record 3,105,978 trades in the securities market were concluded today (previous high was 1,935,113 on 31 March 2015). |
"Stock Connect was one of the catalysts for today's record high securities market turnover," said HKEx Chairman C K Chow. "The programme has given us another source of market liquidity that was enhanced by the Mainland authorities' recent clarification of policies regarding institutional investor participation in Stock Connect."
"Investors should always be cautious, especially in times of very positive market sentiment, because it can come and go," Mr Chow said.
"We're excited about today’s records, including the Southbound record," said HKEx Chief Executive Charles Li. "Our securities market provides a good investment outlet for Mainland funds and is an excellent way for Mainland investors to diversify their portfolios with offshore exposure."
"It was exciting to see the momentum in our securities market over the past several trading days, which resulted in turnover well above our average daily turnover so far this year," Mr Li added. "The increased trading is an encouraging sign that we're on the right path and should continue pursuing our vision, but this is just a start. We are in the midst of a profound structural change: the gradual but accelerating opening of Mainland China's financial markets. Stock Connect is less than five months old and there's much more to come."
"We will continue to work hard to ensure our market operations remain smooth and that we provide reliable systems for market participants and investors. When turnover grows, we always take appropriate risk management measures as required to ensure our market integrity," Mr Li added.
Ends